Deutsche Bank analysts provided their outlook on indie Semiconductor, Inc. (NASDAQ:INDI) ahead of the company’s upcoming Q4 earnings, scheduled on Feb 16.

The analysts expect the company to have a typically strong report (6 consecutive beats), but more importantly, a strong quarterly guide into Q1 (up 15% quarter-over-quarter, up 73% year-over-year), as a combination of secular drivers (Automotive demand strength) and company-specific execution enable it to continue to grow despite industry and macro-economic headwinds.

Importantly, the analysts also see margins expanding to 52.0% in Q1/23 as, despite the aforementioned headwinds, the company continues its path toward achieving profitability in the second half of 2023 (increasing the importance of solid execution over the next few quarters).